It’s a worthy argument but also moot, as the Court has just cleared the sale. Their order states that the plaintiffs “have not carried the burden” of their case, and added that “a denial of a stay is not a decision on the merits of the underlying legal issues.” (pdf here.)

Earlier today a bankruptcy judge gave Chrysler another break, waiving a bankruptcy rule that limits the number of executory contracts a debtor may terminate and allowing Chrysler to abrogate 789 dealership agreements in the U.S. The dealers have until Monday to clear their stock.